Nirman Chaudhary has been appointed to the vacant post of chairman after outgoing chairman Upendra Prasad Paudyal completed two terms. The bank has also approved a cash dividend.
Nirvan Kumar Chaudhary has been elected as the Chairman of Nabil Bank. The 699th Board of Directors meeting of the bank held today elected Chaudhary as the Chairman. He will assume the duties of the Chairman after taking oath from Nepal Rastra Bank.
The post of chairman was vacant after the outgoing chairman Upendra Prasad Paudyal completed two terms. Chaudhary has been selected to fill the vacant post.
The bank's 41st annual general meeting has elected Anil Keshari Shah unopposed as a member of the board of directors from the founding shareholders.
The annual general meeting has passed a 12.50 percent cash dividend. The general meeting held on Monday passed the dividend proposed for shareholders from the profit of the fiscal year 2081/82.
In the current fiscal year 2082/83, the bank has issued a new capital instrument, 'Nabil 8 percent irredeemable unallocated preference shares' worth Rs 5 billion (50 million units at a face value of Rs 100 per unit). The bank claims that the issuance of this instrument will strengthen the capital base through additional primary capital, increase the bank's risk-bearing capacity and further support business expansion.
Currently, Nabil Bank is providing services through a network of 268 branches and 321 ATM machines across the country. The bank has been providing banking services to more than 2.5 million customers.
